Mark Carney news

Bank of Canada governor Mark Carney said Canada is not experiencing a housing bubble and he doesn''t see the need for structural changes to the country's mortgage market, according to a report in Reuters.

A Bank of Canada official called talks of a Canadian housing bubble premature in a speech in Edmonton Monday, adding higher interest rates are not the solution to cooling the current surge in housing demand and prices.

The Canadian real estate market has made a rapid recovery, with prices soaring above previous years' levels and affordability dropping to below historic averages, causing everyone in Ottawa to worry that perhaps the market is too strong. The Financial Post thinks that CMHC may be to blame